Despite being a growing reservoir of funds under management, this critically important pool of capital is confronting mounting problems collating and disseminating key data in a timely manner.
The ratings house is pinning its growth strategy on a revamped methodology that increases the emphasis on governance to 25 per cent – a timely move considering APRA’s proposed reforms.
RBC wins Warakirri asset servicing mandate
RBC Investor & Treasury Services has won the core custody, fund administration, registry and risk and investment analytic services for multi-manager Warakirri Asset Management. Warakirri’s previous custodian was JP Morgan.
Warakirri offers specialist investment management for charities, global and domestic pension funds as well as individual investors across Australian and international equities, Australian agriculture, currency management and US real estate. The business was started by John Nolan in the 1990s in order to provide what is now JANA’s client base with more cost-effective direct access to certain asset classes.
As part of the new deal, Warakirri is also outsourcing to RBC its previously inhouse fund admin and registry operations. Jim McKay, Warakirri’s managing director, pointed to RBC’s continuing investment in technology, particularly in relation to data, as a differentiator.
He said: “We were impressed with RBC’s technology platform and strong commitment to the ongoing development of their IT and service platform. This aligns with Warakirri’s own commitment to investing in our business to continue to deliver high quality investment outcomes and service to our clients.
“Not only were RBC able to offer a solution tailored to meet our AMIT requirements, but a consolidated offer inclusive of wholesale and retail registry services.”
– G.B.
